St. Louis Trust Co Takes Position in Brookfield Asset Management Ltd. $BAM

St. Louis Trust Co acquired a new stake in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 12,899 shares of the financial services provider’s stock, valued at approximately $676,000.

A number of other hedge funds and other institutional investors have also modified their holdings of BAM. LOM Asset Management Ltd acquired a new stake in shares of Brookfield Asset Management in the 4th quarter valued at $31,000. eCIO Inc. acquired a new stake in shares of Brookfield Asset Management in the 4th quarter valued at $42,000. Assetmark Inc. raised its holdings in shares of Brookfield Asset Management by 95.9% in the 3rd quarter. Assetmark Inc. now owns 807 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 395 shares in the last quarter. Cary Street Partners Financial LLC raised its holdings in shares of Brookfield Asset Management by 227.5% in the 3rd quarter. Cary Street Partners Financial LLC now owns 809 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 562 shares in the last quarter. Finally, Cullen Frost Bankers Inc. raised its holdings in shares of Brookfield Asset Management by 38.0% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 846 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 233 shares in the last quarter. 68.41% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Asset Management Trading Down 1.2%

NYSE BAM opened at $47.96 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.38 and a quick ratio of 1.38. The firm’s fifty day moving average price is $46.27 and its 200 day moving average price is $49.70. The company has a market capitalization of $78.56 billion, a price-to-earnings ratio of 31.14, a price-to-earnings-growth ratio of 1.95 and a beta of 1.28. Brookfield Asset Management Ltd. has a 12 month low of $42.20 and a 12 month high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its earnings results on Friday, May 8th. The financial services provider reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.43 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 30.66%. On average, sell-side analysts expect that Brookfield Asset Management Ltd. will post 1.74 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, May 29th will be given a $0.5025 dividend. This represents a $2.01 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Friday, May 29th. Brookfield Asset Management’s dividend payout ratio (DPR) is 130.52%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BAM. The Goldman Sachs Group reduced their price objective on shares of Brookfield Asset Management from $60.00 to $49.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. Morgan Stanley reduced their price objective on shares of Brookfield Asset Management from $63.00 to $62.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 21st. Weiss Ratings lowered shares of Brookfield Asset Management from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, May 15th. BMO Capital Markets upgraded shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 5th. Finally, UBS Group set a $52.00 price objective on shares of Brookfield Asset Management in a report on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Brookfield Asset Management currently has an average rating of “Hold” and a consensus target price of $60.21.

Brookfield Asset Management Company Profile

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company’s products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.